Is Health Insurance is Essential ? ?

Yes Health Insurance is needed ,

According to recent studies, health care costs have been rising at more than 20 per cent on an annualized basis. Also, out-of-pocket spending continues to be around 75 per cent of the total medical expenses.

Given this increasing cost of medical care and treatment, it becomes essential that you have adequate health insurance cover to reduce the risk of financial difficulties in the event of a major illness or hospitalization.

Even the government is getting into the act - to reduce the exorbitant out-of-pocket spending, it has been promoting low-cost health care plans.


Main Reasons For Health Insurance:

Health Insurance help in different Ways as,

1. It helps to secure expenses for future illnesses and hospitalization by paying a fraction of the expenses as the insurance premium

2.It reduces the risk of financial meltdown in the case of expensive medical care as well as post-illness care

3.It definitely induces a sense of security in the insured - even in the face of rising medical costs, his/her family have a financial back-up in the event of sudden medical emergencies.